When processing expense reports via Chrome River, remember that it is very important to enter accurate service dates into the applicable fields of the expense report which reflect when those goods or services were received. This will ensure the expense is properly classified for accrual and deferral cutoff reporting, which is a crucial part of the University of Illinois System’s financial reporting process and a heavy point of emphasis during the U of I System’s external financial audit.
See below for a few points to keep in mind as you are completing these expense reports:
- If the services were all provided on the same day (such as a repair service), simply enter in the same date for both the Beginning Service Date and the Ending Service Date.
- However, if the services were provided over a range of days (such as an annual membership or subscription renewal which crosses fiscal years), then enter the date that the services began in the Beginning Service Date field, while putting the date that the services will be ending in the Ending Service Date field.
- If the purchase is for goods as opposed to services, then you can either:
- Enter the same date for both the Beginning Service Date and the Ending Service Date fields (using the date that you took ownership of the goods), or
- Leave these service date periods blank.
- Finally, keep in mind that University Payables has controls in place which require you to enter these service dates into certain types of expense reports, but these controls are dependent on the type of purchase that is being made and which account codes are being used. So, since these controls may not necessarily catch every type of expense that needs a service date range entered, it’s important for the processor to realize the importance of these service date fields when completing the expense report as a safeguard.
Contact
For further details, reach out to the applicable subject matter experts within the Accrual & Deferral Tracking section of UAFR’s Who to Ask list. You can also reach out to University Payables at (217) 333-6583 or obfsupay@uillinois.edu.
